23-year-old Sim Hacker converts BTC to music rights
A group of hackers used the sim exchange to steal BTC. He and his anonymous friends used sim exchange technology since 2016 to target cryptocurrency users. Anthony Faulk obtained access to the funds of numerous victims, using credentials related to sim. Many of the cryptocurrency masters travel the U.S. UU. It's easy for someone with a bad attitude to find out the phone number of some cryptocurrency celebrities.
Then, hackers create a copy of a SIM card and send the coins of the accounts associated with the exchanges. In the end, scammers used cash to buy luxury upgrades: Nissan Rogue, Ferrari convertible and a $ 942,500 apartment.
The man also bought a Rolex Watch but the most interesting take on eyelashes is the expense related to music.
It seems that the hacker loved to buy the rights to songs, also known as Royalties, through a special Royalty Exchange website. This seems like an extravagant way to wash stolen coins. Instead of sending them to the Wasabi wallet, or exchanges without KYC, the hacker simply invested in modern music.
Of the accusation, we can only read the names of the songs, without the names of the authors.
It seems that songs like "Back on the Grind", "Pull Up" and "What You Know About That" may belong to several different musical artists.
Motherboard sent a letter to the Royalty Exchange to clear the clouds. But journalists did not receive the answer and royalties seem to continue working. So, because government agents took control of their stuff when you broadcast the songs, federal agents may be receiving some extra money.
Hackers who exchange sim love electronic and hip-hop music
A quick search in the open Royalty Exchange database shows that Sim exchanging BTC theft master was buying some song packs with one click. He bought the Ten Hip-Hop Singles Grammy package for $ 8,600, signed the transaction as Anthony F. Inside the package is a song that is not mentioned in the court documents: "What You Know About What" by IT At the same The documents present a Pitbull song called "Que Tu Sabes D'Eso" When translated into English, it means "What you know about what." Music analysts say the IT song is much newer and may attract more royalty payments.
In addition to Hip-Hop, Faulk was fond of Goldroom, buying the rights in several tracks for a period of 10 years. Goldroom from Los Angeles who is an electronic music producer. When the journalists decided to contact Goldroom himself, the man said he had no idea of the agreements.
He said there was a writer in the studio who had partial rights in some of the tracks. He used websites to trade music and presumably "sold his editorial participation in those songs to Royalty Exchange." Josh Legg, also known as Goldroom, expects rights to be distributed fairly among fair owners.
Legg admits that the music industry will soon receive a ticket of bleak investments and bets from people who own cryptocurrencies. And after that, institutional investments will consider putting money in music, which will become something like stocks or cryptocurrencies.